Reported about 12 hours ago
Covenant Logistics Group's third-quarter earnings fell to $0.44 per share, down from $0.54 a year earlier, as the trucking industry faced overcapacity and low freight demand. Despite a 2.8% increase in total revenue to $296.9 million, the company experienced significant declines in its truckload segment, impacted by higher operational costs and under-utilized equipment. CEO David Parker noted investment in dedicated fleet services might improve margins over time, but anticipates further challenges in the upcoming quarter due to various cost pressures.
Source: YAHOO